Africa and some of the world’s foremost innovators in technology and finance will converge in Cape Town, South Africa next week at the SingularityU Conference

by MTHULISI SIBANDAJOHANNESBURG, (CAJ News) – SOME of the world’s foremost innovators in technology and finance will converge in South Africa next week as part of efforts to future-proof the continent into the fourth industrial revolution.

They will meet under the aegis of the inaugural Exponential Finance Summit, organised by SingularityU South Africa, in collaboration with partners Development Bank of Southern Africa, Deloitte and MTN.

SingularityU South Africa has announced more speakers to the programme for the inaugural summit, which will take place at the Cape Town International Convention Centre on May 29 and 30.

“As part of our journey in future-proofing Africa, we are thrilled to have added more incredible speakers to the lineup for our Exponential Finance Summit. We feel a great sense of pride to be bringing these world class experts and thinking to our South African shores,” said Shayne Mann, co-Chief Executive Officer of SingularityU South Africa.

Co-CEO of SingularityU South Africa, Mic Mann, said through the Exponential Finance Summit, they hoped to facilitate meaningful networking connections on a global scale, encourage ideas that could change the financial world, stimulate the South African economy and
kickstart a strong venture capital ecosystem.

“Impact is the currency of the future and these new speakers promise to add exactly that,” Mann said.

Glynn is the co-founder and General Counsel of MobileCoin, a company that provides private, mobile and digital cash payment systems. His talk will address privacy in the world of exponential data.

Kallner, currently the CEO for Discovery Life, and overseeing the group’s Marketing and Distribution, will address the convergence between banking and insurance.

Wierzycka is known for her strong anti-corruption corporate activism in South Africa. She is in high demand domestically and internationally as a speaker on the topic of ethical corporate leadership.

Malinga, who recently returned from Silicon Valley, is part of the Singularity University South Africa faculty with a focus on Internet of Things (IoT) and Big Data.

Managing Director of SqwidNet, Malinga is responsible for building an IoT connectivity business in South Africa in partnership with International IoT giant SIGFOX.

In addition to his CEO role, he oversees the solutions division for SqwidNet, a fully-owned subsidiary of Dark Fibre Africa.

As a member of the South African Singularity University faculty, Rosman specializes in machine learning, artificial intelligence, robotics and automation.

He is a principal researcher in the Mobile Intelligent Autonomous Systems group at the Council for Scientific and Industrial Research (CSIR) in South Africa.

Rob Nail, CEO and associate founder of Singularity University, said, “We expect that these two days will incite and inspire action that will lead to breakthroughs in Africa’s economy.

– CAJ News

]]>http://cajnewsafrica.com/2019/05/24/inaugural-summit-readies-africa-for-industry-4-0/feed/0‘Business as usual for Huawei in South Africa’http://cajnewsafrica.com/2019/05/24/business-as-usual-for-huawei-in-south-africa/
http://cajnewsafrica.com/2019/05/24/business-as-usual-for-huawei-in-south-africa/#commentsFri, 24 May 2019 03:55:39 +0000http://cajnewsafrica.com/?p=30680

Huawei Founder and Chief Executive Officer, Ren Zhengfei

by SAVIOUS KWINIKAJOHANNESBURG, (CAJ News) – HUAWEI, which is contending with a ban from the United States (US), said it had for some time been working to mitigate the impact of the ban on its clients in South Africa.

In a statement, the technology company and smartphone maker, said in South Africa, it would “continue to serve all our customers and partners with the same focus and dedication as before, and contribute to the ICT sector with vigour, as the fourth industrial revolution is a key economic focus for growth and social development.”

It pledged to continue providing security updates and after-sales services to all existing Huawei and Honor smartphone and tablet products, covering those that had been sold and that were still in stock globally.

“We will continue to build a safe and sustainable software ecosystem, in order to provide the best experience for all users globally.”

In an interview with a local media house on Wednesday, Huawei Vice President of Corporate Communications, Glenn Schloss, said their devices were “completely unaffected” by restrictions in the US.

“For owners of Huawei handsets in South Africa it will be business as usual,” Schloss said.

He said the company remained positive and preparing for various eventualities.

“We are stockpiling components and have been working with our supply-chain partners for some time,” Schloss assured.

In an interview with Chinese media this week, Huawei Founder and CEO, Ren Zhengfei, was also bold.

“We will certainly be able to continue serving our customers. Our production capacity is huge, and adding Huawei to the Entity List won’t have a huge impact on us. We are making progress in bidding worldwide,” Zhengfei said.

Zhengfei highlighted in the first quarter of this year, Huawei’s revenue grew 39 percent over the same period last year.

“This rate decreased to 25 percent in April, and may continue decreasing towards the end of this year. But the US ban will not lead to negative growth or harm the development of our industry,” he said.

– CAJ News

]]>http://cajnewsafrica.com/2019/05/24/business-as-usual-for-huawei-in-south-africa/feed/0No research on water despite persistent droughthttp://cajnewsafrica.com/2019/05/17/no-research-on-water-despite-persistent-drought/
http://cajnewsafrica.com/2019/05/17/no-research-on-water-despite-persistent-drought/#commentsFri, 17 May 2019 06:45:23 +0000http://cajnewsafrica.com/?p=30616

The concern raised at the African Utility Week and POWERGEN Africa conference and exhibition held in South Africa.

South Africa is a water scarce country, yet expenditure on research and development for water security does not reflect this picture.

Dr Hlamulo Makelane, research fellow at the Nelson Mandela University, said funding for water research declined over the last five years, which she said was highly problematic.

“Funding for research and development declined by 45 percent in the last five years. This is scary because as we speak the country (South Africa) has a water road map and I hope we will be putting up more money,” she said.

According to her, research and development have a direct impact on water resource management and promotes training and capacity building in the sector.

“It can lead to creative solutions and help influence how people and society behave,” Makelane said.

Makelane also stressed the need for intersectoral funding between government and the private sector for more progress towards water security.

Makelane reminded delegates South Africa is a water scarce country thus needs to improve demand management, storage and protect water sources more effectively.

“This all starts with investing in research because this is how we will know how to plan and decide what dams and reservoirs to build where,” she added.

There are reportedly more than 2 billion people worldwide in countries facing severe water constraints.

Africa is no exception.

Gift Sageme, Chief Executive Officer of Malawi’s Central Region Water Board, also underscored the importance of water security being integral to all facets of society.

He expressed surprise that governments tend to put the water sector behind other sectors like energy, roads, agriculture and health.

“What they (governments) don’t realise, however, is that without water no sector can survive,” Sageme said.

MTN and Nigeria Stock Exchange (NSE) in a moment of joy following Africa’s largest mobile network listed on NSE

from OKORO CHINEDU in Lagos, NigeriaLAGOS, (CAJ News) – THE Nigerian Stock Exchange (NSE) has welcomed MTN Nigeria’s listing as a promising development in the country’s telecommunications sector and encouragement to other players in the industry to explore different opportunities in the capital markets.

MTN Group’s largest entity by subscriber base, listed on Thursday.

“Having MTN Nigeria listed in our market is a testament of The Exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment,” Oscar Onyema, NSE Chief Executive Officer, said.

“This listing will promote liquidity for MTN Nigeria, enhance its value and increase transparency, as our platform remains one of the best avenues for raising capital and enabling sustainable growth for national development.”

The listing was by the introduction of 20,35 billion ordinary shares at N90 per share, on its NSE’s Premium Board.

NSE National Council President, Otunba Abimbola Ogunbanjo, expected MTN Nigeria’s listing, which is the NSE’s second largest, would encourage other telecommunication companies to list their shares on the exchange.

“…thereby opening the sector up to cheaper, long term capital that will boost innovation and development,” Ogunbajo said.

The South African-headquartered MTN has over 6 million customers in Nigeria.

Presentation Board Display in the giant solar plant at Witwatersrand University, South Africa

by TINTSWALO BALOYIJOHANNESBURG, (CAJ News) – MILLIONS of people are set to be saved in energy costs following the launch of two of the largest sub-Saharan solar systems in Johannesburg, South Africa.

The Austrian Ambassador officially launched the facilities in Johannesburg on Wednesday.

These Southern African Solar Thermal Training and Demonstration (SOLTRAIN) projects include a district heating plant for Wits University residences and a solar process heat plant for the Klein Karoo International (KKI) tannery.

SOLTRAIN is a regional initiative on capacity building and demonstration of solar thermal systems in the entire Southern African Development Community (SADC) region.

The solar energy initiative is being funded by the Austrian Development Agency and co-funded by the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development.

The launch follows the fourth SOLTRAIN Conference, held this month in South Africa, for all SADC project partners.

Dr Karen Surridge, Centre Manager, Renewable Energy Centre of Research and Development at South African National Energy Development Institute (SANEDI) welcomed the landmark development.

“The successful conference we have just held with SOLTRAIN partners indicates the relevance of this highly successful programmefor the SADC renewable energy strategy and the development in successful systems across six countries,” Sturridge said.

There are 1 103 students in the 14 buildings, with an average consumption of 94 000 litres of hot water per day.

Since the system was commissioned, the complaints of not having hot water have reduced by 98%.The estimated costs savings are R40 million over the next 20 year

The KKI tannery section has installed a 600m2 solar collector system to reduce costs and increase competitiveness, since fuel costs are highly volatile, and to move its production to a more renewable base.

The process heat infrastructure is an oil burner and the feasibility study design was that the solar would displace the local fuel, indicated as 60% solar fraction.

from NJABULO MKHIZE in Port ElizabethPORT ELIZABETH, (CAJ News) – ISUZU is poised to entrench its presence in Zimbabwe, one of its biggest export markets in Africa.

This follows Zimbabwe Minister of Industry and Commerce, Nqobizitha Mangaliso Ndhlovu, visiting the Isuzu Motors South Africa’s production facility in Port Elizabeth.

The first visit by a Zimbabwean dignitary to Isuzu in Struandale comes on the back of an excellent year of Isuzu bakkie sales in Zimbabwe.

As the second biggest export market of Isuzu Motors South Africa, Zimbabwe accounts for approximately 27 percent of all African exports, said Isuzu Motors South Africa Executive: Corporate Affairs, Business Strategy and Legal, Denise van Huyssteen.

He welcomed the minister’s visit and the opportunity to showcase Isuzu’s capabilities in truck and light commercial vehicle production.

“Isuzu is an established brand in Zimbabwe. As the country embarks on infrastructure development, we are able to offer innovative solutions to meet their needs,” said van Huyssteen.

Isuzu has been a consistent strong brand in Zimbabwe, achieving a 25 percent overall market share in 2018.

Isuzu held a 35 percent share of the pick-up (bakkie) segment and was the best seller in the Double Cab and Extended Cab segments in 2018.

The auto firm has had a presence in Zimbabwe for more than 30 years – selling bakkies, SUV’s, trucks and buses in the market.

“We value our relationships with all our Zimbabwean customers and see ourselves as a brand that can offer products and services that will meet their needs throughout their life-time,” said Van Huyssteen.

A big part of the presence is due to the success story of Isuzu’s Zimbabwe authorised dealership, Autoworld.

Autoworld has been Isuzu’s number one export dealer for more than ten years and has facilities in both Harare and Bulawayo employing more than 150 people.

It is involved in various community projects and sponsors one of Zimbabwe’s top rugby clubs.

from OKORO CHINEDU in Lagos, AKANI CHAUKE in JohannesburgLAGOS, (CAJ News) – ANALYSTS are keenly awaiting the listing of MTN on the Nigerian Stock Exchange (NSE) on Thursday morning.

Reports indicate that the deal by Nigeria’s largest non-oil company by revenue is valued at around U$6 billion.

“Given the market is down ytd (year-to-date) because investors have ignored most positive catalysts, we think MTN is likely to test the market’s lethargy given its strong growth story,” said Tunde Abidoye, Equity Researcher at FBNQuest Capital.

The market expert said the listing looks “decent” assuming it is lists at N90 (US$0,25) /per share, and that 20 billion shares are listed, while the implied current price-to-earnings ratio (P/E) multiple is 9,1 times.

This is given MTN’s earnings growth outlook is likely to remain in the double-digit territory in the near term.

It will be in the market to seek additional debt finance of N200 billion in 2019.

Management disclosed that the company will be making a final payment of N55 billion of its N330 billion regulatory fine by the end of May.

MTN Nigeria’s growth in voice revenue continues to be driven by strong y/y growth in the number of subscribers, which were up by around 15 percent y/y in 2018.

Presently, MTN accounts for about 39 percent of total number of mobile phone subscribers in Nigeria. Globacom, Airtel and 9mobile have market shares of 26,2 percent, 25,6 percent and 9,2 percent respectively.

On Wednesday, May 15, the Johannesburg Stock Exchange-listed parent company said the listing of MTN Nigeria deepened the equity capital markets base of the country, which made it possible to broaden the shareholding base of the Nigerian entity.

It disclosed the listing by introduction means that the existing shares of MTN Group (78,8 percent), the Nigerian investors (19,4 percent) and other investors (1,8 percent) will be listed without an additional public sale of shares.

“From this point, all MTN Nigeria shareholders will be free to trade their shares on the NSE,” the MTN Group stated.

MDC-Alliance leader Nelson Chamisa with rival Thokozani Khupe of MDC-T urged to work together

JOHANNESBURG, (CAJ News) – A South African-based non-governmental organisation advocating for political vibrancy in Zimbabwe has urged the opposition Movement for Democratic Change (MDC) factions to heed the court ruling nullifying the emergence of Nelson Chamisa as party leader.

The High Court last week ruled that Chamisa was not the legitimate leader of the official opposition and that a new leadership process must be held within a month.

Judge Edith Mushore ruled MDC had violated its own internal processes in appointing Chamisa as joint- vice president in 2016. He would later assume the presidency controversially after the death of founding president, Morgan Tsvangirai, in 2018.

Luke Zunga, Acting Coordinator of the Global Zimbabwe Diaspora Forum called on the MDC groups led by Chamisa and former co-vice president, Thokozani Khupe to reunite.

“The judgement can be a blessing in disguise, because it is forcing the party to work together to correct a tactical fault,” Zunga said.

“If I were the leadership of the MDC, I would immediately invite Dr Khupe to come and act as President of the party now, until the May Congress.”

Zunga said preferably, the party must elect a president and delay the full elective general congress preferably to around 2022, close to the 2023 general elections.

“The delay allows time to cool down and unite the party, and deny President Emmerson Mnangagwa early knowledge of his opponent and from manipulating behind the scenes.”

Chamisa’s faction has hinted it would defy the court ruling.

“Further, the public would be skeptical of a party which failed to heed court decisions. The courts must be respected, as the last arbiter of disputes,” Zunga warned.

Zunga argued parliament will declare that MDC parliamentarians from both factions were null and void.

Their seats could be declared vacant and by-elections held.

“If MDC then decide to rectify the irregularity and field candidates in the by-election half would lose the by-election. It would be shame,” Zunga added.

He said the court ruling was a plot for 2023.

“When the MDC MPs are dismembered, they change the law of presidential age to disqualify Chamisa, and there will be few MDC MPs to argue against the motion and ample evidence of puerility.”

Zimbabwe said the recent developments showed Zimbabwe is run on intelligence.

“Intelligence is to see ahead of your enemy. Without an intelligence system, MDC is sailing in muddy waters,” he concluded.

by MTHULISI SIBANDAAfrica EditorJOHANNESBURG, (CAJ News) – THE outcome of elections in South Africa is poised to culminate in major economic reforms but the renewed trade war between China and the United States Ameria (USA), as well as insufficient power supplies, are feared to scuttle growth prospects.

South Africa, the continent’s most advanced economy, recently held general elections that saw the African National Congress (ANC) retain power on a campaign premised on addressing economic imbalances and addressing widespread corruption.

President Cyril Ramaphosa’s ANC retained its majority, with 57,51 percent of the vote – down from 62,15 percent in 2014.

Main opposition Democratic Alliance’s support declined to 20,76 percent from 22,23 percent, while the Economic Freedom Fighters’ share increased to 10,79 percent from 6,35 percent.

The markets responded positively to the outcome, with the volatile Rand currency strengthening. It strengthened by 1,3 percent against the US Dollar to close Friday at 14,16 percent.

“With a weakened majority, it goes without saying that President Ramaphosa has his work cut out for him,” said Mpho Tsebe, economist at the Rand Merchant Bank.

Tsebe noted Ramaphosa was consistent in his previous speeches and State of the Nation addresses that he wanted his term in office to be about growth and job creation.

“His first major test will the cabinet announcement, having promised to reduce the executives and align government departments to the economic needs of the country,” Tsebe said.

The economist nonetheless pointed out Ramaphosa’s government was confronted with a weak economy, with data released last week by Stats SA showing that first quarter 2019 gross domestic product (GDP) likely to contract by between 1,5 percent and 2 percent.

“This would boost confidence and employment, with economic growth seen modestly increasing. However, the US-China trade war as well as domestic power supply constraints present downside risks,” Sithole said.

The Nedbank Economic Unit stated the poll results from elections showed the ANC had retained a parliamentary majority at levels that implied that Ramaphosa would have a sufficient mandate to continue with reforms to support the economy and fight corruption.

Nedbank stated the next key test around policy direction would be the composition of the new cabinet after the presidential inauguration on May 25.

“Business and markets are hoping that those implicated in wrong doing will be removed from considerations, that the numbers of dependants will be reduced and that competent ministers will be appointed to key portfolios,” the bank stated.

A number of cabinet ministers have been implicated in the Gupta-linked state capture.

Nedbank noted earlier last week, the Rand was pressured by emerging market selloff following reports that the trade war between the US and China had re-started after the two countries failed to reach a deal.

China and the US have been engaged in a trade war involving the mutual placement of tariffs since 2018.

– CAJ News

]]>http://cajnewsafrica.com/2019/05/15/china-us-trade-spat-hinders-local-growth-prospects/feed/0Time for ANC to deliver on its poll pledgeshttp://cajnewsafrica.com/2019/05/14/time-for-anc-to-deliver-on-its-poll-pledges/
http://cajnewsafrica.com/2019/05/14/time-for-anc-to-deliver-on-its-poll-pledges/#commentsTue, 14 May 2019 08:08:02 +0000http://cajnewsafrica.com/?p=30559

President Cyril Ramaphosa is ready to deliver on election promises

by SAVIOUS KWINIKA Editor-In-ChiefPRETORIA, (CAJ News) – AFTER emerging victorious in last week’s general elections, South Africa’s ruling African National Congress (ANC) will now be under immense scrutiny to deliver on its election campaign pledges, particularly addressing corruption, which is attributed to its decreasing its voters share from the previous polls.

Praised for renewing itself under the current president, Cyril Ramaphosa, the governing party is also set to be burdened with transforming the economy, particularly around skewed land ownership, which the party promised to address if re-elected.

The revolutionary party received 57,5 percent (230 seats) of the vote (400 parliamentary) seats while the Democratic Alliance (DA) retained its position as the official opposition, coming a distant second with 20,7 percent (84 seats).

ANC had secured over 62 percent in the 2014 poll, with the reduction of its support base between then and the just-concluded poll blamed on corruption and sloth in reforms.

Corruption plagued the ANC particularly under former president Jacob Zuma, who was forced to resign in 2018.

The Black Business Council (BBC) urged the ruling party to intensify the application and implementation of socio-economic transformation policies that would mirror the current state of affairs sidelining the majority blacks.

“Our country’s democratic walk is a testament that we have managed to eradicate the fragments of apartheid. However, we face a new political adversary in corruption, malfeasance and state capture of majority black citizens,” said BBC President, Sandile Zungu.

He pledged the BBC’s commitment to assist the new government to ensure the economic participation and transformation of all citizens in the mainstream economy.

“This important mandate should also be used to further transform and grow the economy of South Africa,” Zungu said.

ANC supporters are excited that while the figures indicated a decline in ANC’s share, the party had improved on its performance from the municipal elections held in 2016.

“People are already showing confidence again in the revolutionary movement,” said ANC activist, Refilwe Modise, in an interview with CAJ News.

ANC earned about 54 percent of the municipal polls held in 2016.

Ramaphosa, in an address to party faithfuls in Johannesburg while reacting to the poll outcome, pledged to implement the people’s aspirations.

“Our people are indeed the true custodians of our country’s democracy and they have chosen the people (ANC) to champion their dreams and aspirations. These elections were a resounding expression of the will of the people of South Africa,” Ramaphosa said.

Ruling parties in the region had wished the ANC well ahead of the elections.

Among these are the Zimbabwe African National Union-Patriotic Front (ZANU-PF).

Simon Khaya-Moyo, ZANU-PF spokesperson, congratulated the ANC, the people of South Africa, the Independent Electoral Commission and all the political parties for a free, fair, transparent and credible election.

“The voting itself, on May 8, and the voting environment was peaceful, orderly, well organised and all polling stations opened on time,” Khaya-Moyo said.

The spotlight now shifts to other Southern African nations preparing for elections later this year.

These are Malawi next week as well as Botswana, Mozambique and Namibia all in October.